- The third yearly WorldRemit study revealed the rising costs of educational supplies across 20 countries.
40 per cent of countries are expected to pay more than their average monthly income on school supplies this year.
It costs every household an average of Sh69,488 to educate a child in Kenya every year.
This is according to the latest study published by WorldRemit, a digital remittances brand, to better comprehend how the cost of school supplies is impacting families across the world.
In its third year of global data and findings, WorldRemit revealed that, based on the average household size in Kenya of 3.23, the total cost per household is about Sh224,446.30 yearly.
It also showed that, due to rising inflation and supply chain challenges in a number of sectors, the average education costs per child are set to rise in the 21 countries observed.
The survey revealed that the cost of educating a child for most households was 1,054.31 per cent or approximately 10 times their average monthly household income.
While practically every country in the study witnessed increased costs, the prices of certain learning items have drastically increased.
The average cost of back-to-school supplies was recorded as the most expensive across all countries, according to the study by WorldRemit, a digital remittances brand within Zepz.
The survey showed that, to purchase school uniform, stationery, P.E. kit and extras for a child, it costs each household an average of Sh69,488, which is way above their reach.
WorldRemit says, to show how much a family will pay for back-to-school supplies in 2023, it calculated the average cost of school supplies per student and multiplied it by the fertility rate.
Here are 5 WorldRemit’s tips to households on how to save for back-to-school shopping:
• Make a back-to-school shopping list
• Go for the sales and take advantage of deals
• Search for the best prices
• Buy second-hand school essentials
• Make use of items you already have in the house
As of July 2022, WorldRemit data shows education is one of the top three reasons why migrants send money back home even as the rising cost of living has forced them to revise how they allocate remittances.